Wal-Mart takes on MoneyGram, PayPal, and Western Union

Wal-Mart is jumping into the money transfer business. April 17, The world's largest retailer introduced a new money transfer service Thursday that it says will cut fees for its low-income customers by up to 50 percent compared with similar services elsewhere. It's a huge footprint that could reshape that industry and is likely to set off a pricing battle. Wal-Mart's announcement is the latest way it's acting more like a bank. Those efforts were blocked even though the retailer vowed it would not open retail branches but wanted to use its bank to process card transactions. In , it abandoned those plans, but it has been creating an expanding menu of financial offerings for customers, aimed particularly at those with limited access to banks.

In , it launched its Walmart2Walmart domestic money transfer service powered by Ria. This enabled Americans to affordably and quickly send money to each other through U. Walmart locations. Earlier in , the company took it a step further by partnering with Moneygram to launch Walmart2World, a global money transfer service. Their fixed pricing structures no matter where money is sent from or received , competitive exchange rates, and the delivery of funds in 10 minutes or less are the main factors setting both services apart from the competition.

Protect yourself against fraud. Quickly and reliably transfer money online and pickup anywhere in the U. With Walmart, you can send and receive money, pay bills, and purchase money orders all in one convenient place. Send money to family and friends within the U. Using your credit or debit card or bank account, funds sent will typically arrive in minutes after the transfer is sent. Save money when you send money online with exclusive savings.

Walmart2Walmart transfers are available to and from any Walmart location in the U. Walmart offers two types of money transfers: Walmart2Walmart money transfers, powered by the firm Ria , and MoneyGram money transfers. You can send Walmart MoneyGram money transfers to or from more than 4, Walmart locations worldwide, including most U.
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